A Rolls Royce car grill outside residential properties in Mayfair in London, Britain, Monday, October 28, 2024.
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On Wednesday, the British luxury car manufacturer Rolls-Royce Motor Cars he said is investing more than £300 million ($369.9 million) to expand its global headquarters, citing growing demand from its ultra-wealthy clients for highly personalized models.
BMWRolls-Royce Motor Cars, like other luxury car brands, has seen an increase in demand for non-standard and complex car models in recent months.
Some of these customized embellishments included orders for solid 18k gold carvings, intricate embroidery featuring over 869,500 stitches, and holographic paint finishes.
The company said the investment of more than £300 million at its Goodwood manufacturing facility in southern England will help create space for bespoke and Coachbuild projects. This last one refers to an invitation-only program in which the company's customers can create a “completely original car.”
Rolls-Royce Motor Cars says the investment, which is likely to be seen as a boost for Britain's ruling Labor Party, represents the company's biggest single injection of capital since it opened its Goodwood plant 22 years ago.
“Rolls-Royce is a global company,” Chris Brownridge, CEO of Rolls-Royce Motor Cars, told CNBC.Squawk Box Europe“on Wednesday.
“We have clients in every corner of the world and this increase in demand for more complex work from our clients is something we need to meet. So the investment in Goodwood is something that shows the health of the organization, but also shows how confident we are in executing our growth plans,” Brownridge said.
“We are not trying to make more Rolls-Royces, but we are trying – and we will do – to make more special orders and more extraordinary cars,” he added.
Rolls-Royce Motor Cars said it sold 5,712 cars last year, down 5% from global sales of 6,032 in 2023. It attributed the slight decline in sales to the switch to new models.
The company's largest sales region in 2024 in terms of the number of cars delivered to customers was North America.
Taking all regions into account, Rolls-Royce Motor Cars said its most sought-after models last year were the Cullinan, Specter and Ghost respectively.